Seven-Unit Multifamily Income
For Sale
$2,499,000
10675 Royal Palm Boulevard 1-7, Coral Springs, FL 33065
Seven-unit multifamily with private patios or balconies and in-unit washer and dryer in each unit.
Property Size8,407 SF
Lot Size0.50 Acres
Price / SF$297.25
Days on Market97
Property Features for 10675 Royal Palm Boulevard 1-7
General Information
Standard status
Active
Size
8,407 SF
Lot size
0.50 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$44,629
Building Details
Building Size
8,407 SF
Year Built
1987
Listing Agency:
Fidelity Real Estate Group LLC
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Source:
Pamandtoni
Added: Jul 10
Changed: Oct 2
Last Checked: Oct 13 at 2:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fidelity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This for-sale multifamily property features seven units in a mix of one spacious 3-bedroom, 2.5-bath townhome, four 3-bedroom, 2-bath units, and two 2-bedroom, 2-bath units. Each unit includes a washer and dryer, along with a private patio or balcony. Units also have separate electric meters, supporting more individualized utility billing.
The property is located on a corner lot in Coral Springs and totals nearly half an acre. The remarks indicate current rents are well below market, presenting upside potential.
Financial projections provided with the offering estimate projected annual gross income of $240,000 and total estimated annual expenses of $68,389. The estimated expenses include landscaping ($4,800), insurance ($12,000), water ($5,400), and electric ($1,560). All information is believed to be accurate but is not guaranteed.
The property is located on a corner lot in Coral Springs and totals nearly half an acre. The remarks indicate current rents are well below market, presenting upside potential.
Financial projections provided with the offering estimate projected annual gross income of $240,000 and total estimated annual expenses of $68,389. The estimated expenses include landscaping ($4,800), insurance ($12,000), water ($5,400), and electric ($1,560). All information is believed to be accurate but is not guaranteed.
Key Highlights
- 7‑unit multifamily built in 1987 in Coral Springs, on nearly half an acre corner lot
- Unit mix: one 3BD/2.5BA townhome, four 3BD/2BA units, and two 2BD/2BA units
- Each unit includes a washer and dryer plus a private patio or balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,063
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,681,260
$2.7M
Cap Rate 7%
$1,915,186
$1.9M
Cap Rate 9%
$1,489,589
$1.5M
Market Conditions
NOI Build-Up for 8,407 SF
Gross rent
$255.2K $30.36/SF
− Vacancy
−$11.5K −$1.37/SF
EGI
$243.8K $28.99/SF
− OpEx
−$109.7K −$13.05/SF
NOI
$134.1K $15.95/SF
Area
Coral Springs, FL
Vacancy
4.50%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,681,260
Cap Rate 7%
$1,915,186
Cap Rate 9%
$1,489,589
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.23M
NOI $134,063 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.34M
$12.54M – $16.73M
NOI $1,003,546 @ 7.0% cap · market cap 40.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 33065, FL
59,668
Population
21,416
Households
2.8
Avg Household Size
36
Median Age
31%
College-Educated
93%
High-School Grad
8.6 sq mi
ZIP Area
6,938
Density / Sq Mi
$70,435
Median Household Income
$36,255
Median Earnings
$1,833
Median Rent
$416,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit multifamily with private patios or balconies and in-unit washer and dryer in each unit.
Where is this apartment building located?
The property is located at 10675 Royal Palm Boulevard 1-7 Coral Springs, FL.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: 7‑unit multifamily built in 1987 in Coral Springs, on nearly half an acre corner lot; Unit mix: one 3BD/2.5BA townhome, four 3BD/2BA units, and two 2BD/2BA units; Each unit includes a washer and dryer plus a private patio or balcony
